Bank Leumi is in advanced talks to sell a controlling stake in real estate developer Jerusalem Economy to billionaire Beny Steinmetz, as the bank seeks to claw back some of the money JEC’s majority shareholder, Eliezer Fishman, owes it.
Sources said Steinmetz is likely to pay $105.3 million for the 40% holding in JEC that Fishman pledged as collateral to Leumi against the 1.5 billion shekels the tycoon owes.
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